Dalio’s Hedge Fund Risks Being Dumped by Pension on Weak Returns (Bloomberg)
A California county’s $21 billion pension is considering whether to drop Ray Dalio’s hedge fund after it underperformed for most of the past 16 years. The Orange County Employees Retirement System’s investment in Bridgewater Associates’s Pure Alpha fund has returned an annualized 4.5% since 2005, about 2.5 percentage points less than its benchmark, according to a memo seen by Bloomberg from Meketa Investment Group, the pension’s consultant. The strategy has topped OCERS’s target only once in the past five years and has trailed on a seven- and 10-year time horizon.
Hedge Fund Pay, Revealed: How Much Engineers, Associates, and Researchers Make at AQR, Bridgewater, Citadel, D.E. Shaw, Point72, and Two Sigma (Business Insider)
Hedge funds are known for top-notch comp, and applications for H-1B visas reveal what some pay. Managers like Bridgewater, Citadel, Point72, AQR, and more rely on dozens of non-US citizens. Base salaries break six figures at nearly all funds, and that’s not even including bonuses. For many Wall Street aspirants, a career at a top hedge fund is the holy grail. For those who succeed, compensation has the potential to eclipse nearly any other profession in the country – let alone finance.
Hedgeweek Americas Awards: Macro Managers Steer Through Geopolitical Turbulence (Hedge Week)
The fallout from the Covid-19 pandemic continues to reshape the global macroeconomic and geopolitical landscape, driving both uncertainty as well as opportunity for macro managers – and the Best Macro Hedge Fund category at this year’s Hedgeweek Americas Awards will honour those managers who have successfully steered their strategies through the assortment of rapidly-evolving macro trends. Macro hedge funds bet on broader macroeconomic trends and themes by trading a range of markets and indices, going long and short across equities, bonds, currencies, and commodities, among others.
Billionaire-Backed Exchange Funded by Alleged Scheme to ‘Pump’ Price (Bloomberg Quint)
(Bloomberg) — It would become the biggest digital token sale on record. Over 11 months in 2017 and 2018, a little known software maker named Block.one held an initial coin offering for a new cryptocurrency, raising more than $4 billion. Backed by billionaire heavyweights including PayPal co-founder Peter Thiel, hedge fund magnates Alan Howard and Louis Bacon, and German entrepreneur Christian Angermayer, Block.one said it would use the money to build tools that would speed adoption of blockchain technology.
Thursday 9/2 Insider Buying Report: BLFY, PAHC (Nasdaq.com)
At Blue Foundry Bancorp, a filing with the SEC revealed that on Monday, Director Robert Thomas Goldstein purchased 17,500 shares of BLFY, at a cost of $13.56 each, for a total investment of $237,318. So far Goldstein is in the green, up about 2.6% on their buy based on today’s trading high of $13.92. Blue Foundry Bancorp is trading off about 0.2% on the day Thursday. Before this latest buy, Goldstein made one other buy in the past twelve months, purchasing $92,700 shares at a cost of $12.36 a piece. And at Phibro Animal Health, there was insider buying on Monday, by Director E. Thomas Corcoran who purchased 5,000 shares for a cost of $23.68 each, for a total investment of $118,400. Phibro Animal Health is trading up about 5.2% on the day Thursday. Corcoran was up about 7.8% on the buy at the high point of today’s trading session, with PAHC trading as high as $25.53 at last check today.
The GC and Corporate Secretary of Ulta Beauty (NASDAQ: ULTA) is Buying Shares (Analyst Ratings)
Yesterday, the GC and Corporate Secretary of Ulta Beauty (ULTA), Jodi Caro, bought shares of ULTA for $1M. Following Jodi Caro’s last ULTA Buy transaction on March 21, 2019, the stock climbed by 52.3%. Following this transaction Jodi Caro’s holding in the company was increased by 54.44% to a total of $2.4 million. Based on Ulta Beauty’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $1.97 billion and quarterly net profit of $251 million.
